Navigating the New UK Budget

• 4th November 2024

The Labour Government’s latest budget announcement has introduced some significant changes and presented some unique challenges for the UK leisure industry. As the Labour government tackles inflation and promotes economic stability, businesses will need to find ways to adapt to the increased wage costs and tightened household budgets. We spoke to Leisure Industry Expert and Booking Solutions Consultant, Natalie Richmond who talked us through how flexible booking systems, technological advances, early bird discounts and bundle deals can help drive growth and reduce staffing costs in this new economic landscape.

“Working alongside trade organisation Association of Indoor Play (AIP) as well as diving into my industry experience, I have found that the leisure industry is often impacted most by changes in the economic and political climate. Having a flexible approach to managing an activity-based business is the key to success,” says Natalie Richmond

Rising Staffing Costs

With the recent rise in National Living Wage from £11.44 to £12.21 expected to take place in April 2025, many leisure venues face growing pressure to manage staffing expenses carefully.

“While of course, front-line staff remain essential for ensuring quality customer experiences, we have spoken to many businesses who have found that a competent booking system can help to manage and reduce their need for additional administrative staff” notes Natalie Richmond.

She finds that many of her activity-based clients have adopted automatic booking and CRM systems, finding the long-term benefits in taking the weight off their admin staff. Finding a booking system that offers automated reservations and streamlined ticketing and check ins straight from your website or social media platforms can reduce the burden for front-desk teams and allow you to cut back on labour costs during peak periods like Christmas and school holidays. Automating these processes not only reduces staffing needs but also enhances efficiency, helping you allocate resources strategically.

Adapting to Economic Shifts with Confidence

As the UK’s economic landscape evolves, leisure venues need to stay agile to adapt to the impacts of the new budget. By embracing automation to cut costs, offering flexible pricing and loyalty programs, and using data insights to inform decisions, venues can remain resilient and competitive. The combination of these strategies helps not only to manage rising costs but also to deliver a memorable experience for customers.

Here at SMART Entertainment, we’re introducing a unique new booking system WannaBook which offers flexible pay-per-booking payment model. Unlike traditional monthly subscription models, our new pay-per-booking system offers a more adaptable, budget-friendly approach to booking management. Alongside our other booking systems, WannaBook offers the option to add optional booking fees on each transaction. This structure ensures that you only pay when bookings come in with the ability to pass the cost onto the customer. This makes it an ideal system for managing fluctuating demand in the low season without the burden of a fixed monthly fee. This flexibility can be crucial in an economy where cash flow needs to be carefully managed, especially for smaller venues that may see seasonal changes in bookings over the year.

Natalie Richmond finds, “In this climate, business have found being able to adjust their costs based on demand has made a tremendous difference to driving growth and peace of mind,”

Early Bird and Off-Peak Discounts

As household budgets tighten, venues need to stay competitive by providing families with a range of cost-effective options. Early bird and off-peak discounts are an effective way to drive bookings while making your venue accessible to a larger customer base. With families increasingly looking for ways to save on leisure activities, incentivizing advance bookings and off-peak attendance can help you keep your venue busy while managing operational costs. These types of discounts are also a great way to get your customers booking well in advance allowing businesses to plan ahead.

At SMART Entertainment, our booking systems are designed to help you get the most out of your pricing model by allowing venues to implement discounts automatically at checkout. By attracting budget-conscious families with early bird or off-peak deals, you can create a consistent income stream and optimize attendance patterns, reducing strain during busy times and generating traffic during quieter hours.

Use Data Insights

In the face of rising costs, making informed, data-driven decisions becomes essential. Harnessing technological and data driven choices can help venues to analyse their peak times, demographic trends, and booking behaviours to optimise the key (and often uncertain) aspects of operation. As household costs increase and family budgets tighten mapping changes in customer spending patterns and knowing where your resources will make the most impact is crucial for any activity-based business.

“With the current economic shifts, data-driven insights are critical to optimizing our operations. By understanding when our busiest times are and what drives customer engagement, we’re able to make smarter staffing and marketing decisions that directly impact our bottom line,” says Alastair Dawson, Managing Director of Laser Quest GB. “Having real-time data at our fingertips through our booking system means we’re adapting proactively rather than reacting after the fact.”

SMART Entertainment offers real-time analytics with our booking systems to help you respond to these trends, whether it’s recognising busier times or identifying opportunities for discounts and bundle deals in quiet periods. Our systems can help you manage your businesses trends and plan ahead for the future.

At SMART Entertainment, we’re dedicated to supporting the leisure industry through these new budget changes. Our tailored, data-driven booking systems empower venues to thrive, providing tools that increase efficiency, enhance customer satisfaction, and drive consistent growth. To book your live, complimentary DEMO of any of our systems click the button below.